Vigilare Wealth Management Boosts Holdings in Tesla, Inc. $TSLA

Vigilare Wealth Management increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 105.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,547 shares of the electric vehicle producer’s stock after acquiring an additional 3,868 shares during the quarter. Tesla accounts for 0.9% of Vigilare Wealth Management’s portfolio, making the stock its 24th largest position. Vigilare Wealth Management’s holdings in Tesla were worth $2,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC boosted its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank lifted its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter valued at approximately $27,000. Newton One Investments LLC lifted its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 5.1%

Shares of TSLA opened at $436.00 on Friday. The company’s fifty day moving average is $361.74 and its 200 day moving average is $319.98. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock has a market capitalization of $1.45 trillion, a PE ratio of 252.02, a P/E/G ratio of 15.97 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the firm earned $0.52 EPS. The company’s revenue was down 11.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 over the last quarter. Insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a report on Tuesday. China Renaissance reaffirmed a “hold” rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $341.46.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.